Can a person with a very low credit score get a loan?

More info needed.. to some folks 650 is low.. others 480.. Also, lenders look at all 3 bureaus and use the middle score for loan eligibility.. so without knowing your score, it's impossible to advise you.. The real reason is "Why".. Why is your score so low? Bk? Foreclosure? Judgement? Collections? Unpaid taxes? Unpaid student loans? You could have a 750 credit score, yet with one of these deficiencies, you still might be denied.. This is why lenders need to analyze your complete loan profile, not just a credit score, to determine one's eligibility.. If you want to know for sure, you should pick up the phone and get a hold of a local mortgage broker.. Don't go to one of the big corner banks.. they wont be any help if you have credit issues.. but stick to the brokers.. they have access to a network of different lenders, with each one offering a different set of lending guidelines.. the more lenders, the more lending options and the greater likelihood of your loan scenario getting approved.. and if you don't qualify today, most brokers will take the time to show you how you can get approved in the future. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Williams advice is very good. The bottom line for lenders is that we need to determine if the borrower has "the ability to repay". Your credit score is only one of many factors we use to determine that. This is complex process and you need to find a local lender that you trust to walk you through the process of buying a home. Best of luck to you.